California FTB Issues Information on Golden State Stimulus Payments for Individual Income Taxpayers

The California Franchise Tax Board May 6 issued information on the one-time Golden State Stimulus payment. Individual income taxpayers affected by the COVID-19 pandemic must file their 2020 return to receive the payment. Taxpayers who file with: 1) a social security number and claim and receive the earned income tax credit will receive a payment of $600; 2) an individual taxpayer identification number (ITIN) and claim and receive the credit will receive a payment of $1,200; and 3) an ITIN and don’t qualify for the credit but had $75,000 or less in 2020 income will receive a payment of $600. ...